Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2017

The following table reconciles the numerator and denominator used to calculate diluted earnings per share for the three months ended March 31, 2017 and 2016:



	Three months ended March 31,
	2017			2016
Numerator:
Net income (loss) attributable to common shareholders	$	(1,274,446	)	$	(253,111	)
Denominator:
Weighted-average shares outstanding – basic	16,042,219			16,341,481
Dilutive effect of other securities	—			—
Weighted-average shares outstanding – diluted	16,042,219			16,341,481

As of March 31, 2017 and 2016, restricted stock awards and options to purchase 237,875 and 257,308 shares of common stock, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effect would be antidilutive.